Legalaxy - October 2024

SEBI (FOREIGN VENTURE CAPITAL INVESTOR) REGULATIONS, 2000 – AMENDED

Securities and Exchange Board of India ("SEBI"), vide its notification dated September 4, 2024, has notified the SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2024 ("FVCI Amendment Regulations"), thereby amending the SEBI (Foreign Venture Capital Investors) Regulations, 2000 ("FVCI Regulations").

The key amendments introduced are:

1. Application for grant of certificate as a foreign venture capital investor ("FVCI") - No person shall buy, sell or otherwise deal in securities as a FVCI unless it has obtained a certificate granted by a designated depository participant ("DDP") on behalf of SEBI, to whom such application shall be made in the form and manner as specified by government or SEBI. FVCI shall pay registration fees of $2500 for registration to the DDP. FVCIs who have already been granted a registration certificate prior to notification of the FVCI Amendment